The assets of Crane Industries consist of current assets and net plant and equipment. The company has total assets of $3.5M and net plant and equipment equals $2.25M. It has notes payable $250,000, long-term debt of $1M, and total common equity of $2M. The company does have accounts payable on its balance sheet. The firm only finances with debt and common equity.

a. What is the amount of total liabilities and equity on the balance sheet?

b. What is the balance of current assets?

c. What is the balance of current liabilities?

d. What is the amount of accounts payable?

e. What is the net working capital?

f. What is the net operating working capital?

g. What is the difference between answer 5 and 6 from above?